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GrowNOW is a program provided by the State Treasurer's office for small business owners. Small businesses that can commit to creating or retaining jobs in Ohio can receive a two-year, 3% interest rate reduction on new or existing loans.

Process for Serving as a Depository of Public Funds with the State of Ohio

As Chairman of the Ohio Board of Deposit, Ohio Treasurer of State Josh Mandel encourages financial institutions to become eligible to accept public moneys, including active deposits and interim deposits, during the 2016-2018 and 2018-2020 bienniums.

To be eligible to participate in Ohio Treasury programs and receive interim deposits, financial institutions are required to submit the Application and Agreement for Deposit of Public Funds and Trustee Agreement(s). Once reviewed and verified for completeness, the financial institution will be recommended to the State of Ohio Board of Deposit for approval.

All documents to complete an application to serve as a state depository, along with a checklist to ensure that you have completed all necessary steps are available at Financial Institutions. Applications for interim deposits will be accepted throughout the designation period.

For depositories that seek an award for active deposits, a schedule will be posted on the Ohio Board of Deposit website for the 2018-2020 biennial designation, when available. A separate Request for Proposal will be issued to guide the Ohio Board of Deposit in awarding active deposits as part of its next biennial designation of “the public depositories for the public moneys of the state,” as provided in the Ohio Revised Code 135.12.

If you have questions about the Application/Agreement for Deposit of Public Funds, please contact Bob Willer at (614) 466-1580 or robert.willer@tos.ohio.gov. The Ohio Treasurer of State welcomes your application and the opportunity to work with you during this biennium.